Chapter 14 Taxes

income received by the government to help provide public goods and services?

• revenue

• discreationary

• mandatory spending

• entitlement

According to the document that represents tax brackets for the Federal income taxes, which tax structure is in effect?

• Regressive

• Progressive

• Proportionate

If it is easy to collect and pay for a tax, we will call this

• Simplicity
• Certainty
• Efficiency
• Equity

This pays for Social Security and Medicare

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

This is the major revenue source for the Federal Government

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

This taxes help pay for local police and fire.

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

Which of the following is a discretionary spending account?

• Social Security
• Medicaid
• Medicare
• National Defense

The process of an employer taking your taxes out for each of your paychecks is called:

• mandatory spending.

• efficiency

• progressive taxation

• tax withholding

Sales Tax

• Tax on money earned from working

• Tax paid on property owned

• Tax on items you buy

money paid to the government through income, sales, and purchase of property

• taxes

• goods

• scarcity

• human resource